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U.S. debt jumped a record $328 billion on Thursday, the first day the federal government was able to borrow money under the deal President Obama and Congress sealed this week.
The debt now equals $17.075 trillion, according to figures the Treasury Department posted online on Friday.
Usually Congress sets a borrowing limit, or debt ceiling, that caps the total amount the government can be in the red.
But under the terms of this week’s deal, Congress set a deadline instead of a dollar cap. That means debt can rise as much as Mr. Obama and Congress want it to, until the Feb. 7 deadline.
The debt clock says different. Still at 16.9.
This thread makes me laugh with disbelieve.
American debt hits $17 trillion for the first time.
Today it broke $17tn, next year it will top $18tn and by the time good old Barry passes on the baton of the presidency then we will probably all be aghast as it smash's through the $20tn mark for the first time.
Next Year..???!!! You mean NEXT MONTH.